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PALO ALTO, Calif., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Intapp (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, today announced that U.K. accounting firm Milsted Langdon has selected two Intapp Collaboration solutions: Intapp Documents and Intapp Workspaces. These solutions will enable modern work by transforming the firm’s Microsoft 365 platform into an engagement-centric collaboration solution. Enabling modern work“Our professi ...

Group 1 - The current market environment is characterized by volatility around all-time highs, prompting value-oriented investors to focus on smaller, lesser-known stocks with strong value propositions [1] - Gary Alexander has extensive experience in the technology sector, having worked on Wall Street and in Silicon Valley, and has been involved with seed-round startups [1] - Alexander has been a contributor to Seeking Alpha since 2017 and his insights are widely disseminated across various trading platforms, including Robinhood [1]

Revenue and Financial Performance - Total revenues for the three months ended September 30, 2024, were $118.805 million, compared to $101.575 million for the same period in 2023[7] - SaaS revenue increased to $76.876 million in Q3 2024, up from $58.913 million in Q3 2023[7] - Total revenues for the three months ended September 30, 2024, were $118.8 million, compared to $101.6 million in the same period in 2023, representing a 16.9% increase[19] - U.S. revenues increased to $78.6 million in 2024 from $69.9 million in 2023, a 12.5% growth, while U.K. revenues grew by 35.8% to $20.0 million from $14.7 million[19] - Total revenues increased by $17.2 million, or 17%, in Q3 2024 compared to Q3 2023[85] - SaaS revenues increased by $18.0 million, or 30%, in Q3 2024 compared to Q3 2023, driven by new client acquisitions and expansion of existing clients[86] - License revenues grew by $0.4 million, or 2%, in Q3 2024 compared to Q3 2023[86] - Professional services revenues decreased by $1.2 million, or 8%, in Q3 2024 compared to Q3 2023 due to a shift in resource delivery to third-party implementation partners[86] - Total revenues for the three months ended September 30, 2024 were $118.8 million with a gross margin of 73%[60] Net Loss and Profitability - Net loss for Q3 2024 was $4.520 million, an improvement from a net loss of $15.321 million in Q3 2023[7] - Comprehensive loss for Q3 2024 was $4.025 million, compared to $15.612 million in Q3 2023[9] - Net loss for the three months ended September 30, 2023 was $15.3 million[11] - Operating loss improved to $7.3 million in Q3 2024 from $14.0 million in Q3 2023[83] - Net loss decreased to $4.5 million in Q3 2024 from $15.3 million in Q3 2023[83] - Gross profit increased by $16.9 million, or 24%, in Q3 2024 compared to Q3 2023[88] - Gross profit increased by $16.9 million, or 24%, for the three months ended September 30, 2024, driven by SaaS revenue growth and cost reductions[92] Cash and Cash Equivalents - Cash and cash equivalents increased to $253.847 million as of September 30, 2024, compared to $208.370 million as of June 30, 2024[6] - Cash, cash equivalents and restricted cash as of September 30, 2023 was $141.7 million[12] - Total cash and cash equivalents as of September 30, 2024 were $253.8 million[60] - Cash and cash equivalents as of September 30, 2024, totaled $253.8 million, held with high credit quality financial institutions, including money market funds[110] Accounts Receivable and Deferred Revenue - Accounts receivable decreased to $62.053 million as of September 30, 2024, from $95.103 million as of June 30, 2024[6] - Deferred revenue decreased to $203.114 million as of September 30, 2024, from $218.923 million as of June 30, 2024[6] - Deferred commissions were $30.7 million as of September 30, 2024, down from $32.4 million as of June 30, 2024, with amortization expense of $4.0 million for the quarter[20] - Unbilled accounts receivable decreased to $12.98 million as of September 30, 2024, from $13.36 million as of June 30, 2024, while deferred revenue, net, decreased to $205.2 million from $222.5 million[21] - The company recognized $88.5 million in revenue from deferred revenue for the three months ended September 30, 2024, compared to $65.3 million in the same period in 2023[21] - Remaining performance obligations as of September 30, 2024, were $549.4 million, with 56% expected to be recognized within the next 12 months[22] - Remaining performance obligations as of September 30, 2024 were $549.4 million[60] Operating Expenses - Total operating expenses for Q3 2024 were $94.125 million, up from $83.967 million in Q3 2023[7] - Research and development expenses increased to $32.427 million in Q3 2024, compared to $28.496 million in Q3 2023[7] - Research and development expenses increased by $3.9 million, or 14%, primarily due to higher personnel and contractor costs[93] - Sales and marketing expenses increased by $3.3 million, or 10%, driven by higher personnel costs and sales commissions[94] - General and administrative expenses increased by $2.9 million, or 14%, primarily due to higher personnel-related costs[95] - Cost of SaaS revenues increased by $2.6 million, or 21%, in Q3 2024 compared to Q3 2023, primarily due to higher amortization, overhead, and personnel costs[89] - Cost of professional services revenues decreased by $2.3 million, or 13%, in Q3 2024 compared to Q3 2023, mainly due to reduced personnel-related costs[91] Stockholders' Equity and Stock-Based Compensation - Stockholders' equity increased to $442.120 million as of September 30, 2024, from $403.238 million as of June 30, 2024[6] - Total stockholders' equity as of September 30, 2023 was $346.7 million[11] - Stock-based compensation for the three months ended September 30, 2023 was $18.8 million[11] - Stock-based compensation expense totaled $19.9 million, or 17% of total revenues, in Q3 2024[84] - Stock options exercised during the three months ended September 30, 2024 had a total intrinsic value of $67.3 million and generated $22.9 million in proceeds[47] - PSUs granted during the three months ended September 30, 2024 had a grant fair value of $38.34 per share[48] Cash Flow and Financing Activities - Net cash provided by operating activities for the three months ended September 30, 2023 was $11.6 million[12] - Operating cash flow for the three months ended September 30, 2024 was $24.4 million[60] - Net cash provided by operating activities was $24.4 million for the three months ended September 30, 2024, up from $11.6 million in the same period in 2023[99] - Net cash used in investing activities was $2.8 million, primarily for capitalized internal-use software costs and property and equipment[101] - Net cash provided by financing activities was $21.5 million, primarily from stock option exercises[102] - The company had cash and cash equivalents of $253.8 million as of September 30, 2024[98] - No amounts have been borrowed under the $100 million JPMorgan Credit Facility as of September 30, 2024[104] - The company has a senior secured revolving credit facility of up to $100.0 million, with no outstanding loan balance as of September 30, 2024[110] - Future borrowings under the credit facility will accrue interest at a variable rate based on SOFR plus a spread ranging from 1.75% to 2.50% or an alternate base rate plus a spread ranging from 0.75% to 1.50%[110] Intangible Assets and Goodwill - Goodwill increased by $0.5 million due to foreign currency translation adjustments, reaching $286.5 million as of September 30, 2024[24] - Intangible assets, net, decreased to $37.3 million as of September 30, 2024, from $40.3 million as of June 30, 2024, with amortization expense of $3.0 million for the quarter[26][28] - Capitalized internal-use software costs were $1.6 million for the three months ended September 30, 2024, with amortization expense of $0.9 million[35] - Capitalized cloud computing implementation costs were $0.8 million for the three months ended September 30, 2024, with amortization expense of $0.1 million[36] Contingent Consideration and Liabilities - The fair value of contingent consideration liabilities was $0.3 million as of September 30, 2024, down from $2.6 million as of June 30, 2024, due to payments and adjustments[32][33] - Contingent consideration liabilities decreased from $6,681 thousand to $5,250 thousand as of September 30, 2023, with a payment of $1,387 thousand and a change of $920 thousand during the three months ended September 30, 2024[34] Lease and Operating Costs - Operating lease costs increased from $1,500 thousand to $1,705 thousand for the three months ended September 30, 2024[38] - The weighted-average remaining lease term decreased from 6.0 years to 5.2 years as of September 30, 2024[39] - Cash payments for operating lease liabilities increased from $1,695 thousand to $2,151 thousand for the three months ended September 30, 2024[40] Client and Revenue Concentration - No client individually accounted for 10% or more of the company's revenues for the three months ended September 30, 2023[17] - One client accounted for 16% of the company's total accounts receivable as of June 30, 2024[17] - Clients representing more than 10% of accounts receivable balance were zero as of September 30, 2024, compared to one as of June 30, 2024[108] ARR and Cloud Metrics - ARR increased by 19% to $417.2 million as of September 30, 2024 compared to $350.1 million as of September 30, 2023[65] - Cloud ARR increased by 27% to $309.1 million as of September 30, 2024 compared to $242.5 million as of September 30, 2023[66] - Trailing twelve months' NRR as of September 30, 2024 was 114%[67] - Trailing twelve months' Cloud NRR as of September 30, 2024 was 119%[68] - The company had over 2,600 clients as of September 30, 2024[69] - The company had 707 clients with contracts greater than $100,000 of ARR as of September 30, 2024[69] Inflation and Interest Rate Impact - The company does not believe inflation has had a material effect on its business, results of operations, or financial condition[109] - A hypothetical 100 basis points change in interest rates would not materially impact the company's operating results or the fair value of cash and cash equivalents over the next twelve months[110] - The company's exposure to foreign currency exchange risk is primarily related to accounts receivable, cash balances, employee compensation obligations, and lease liabilities denominated in non-U.S. dollar currencies[107] - A hypothetical 10% change in foreign currency exchange rates would result in an immaterial gain or loss on operating results over the next twelve months[107] Internal Controls and Financial Reporting - The company's disclosure controls and procedures were effective at the reasonable assurance level as of the end of the period covered by the Quarterly Report[111] - No changes in internal control over financial reporting were identified during the quarter ended September 30, 2024, that materially affected or are likely to materially affect the company's internal control[112] Cloud Services Commitment - The company has $90.9 million remaining on its $110.0 million cloud services commitment with Microsoft as of September 30, 2024[42] Acquisition and Working Capital Adjustments - The company paid $0.9 million for working capital adjustments related to the acquisition of Transform Data International B.V. during the quarter[23]

Financial Data and Key Metrics - Cloud ARR grew to $309 million, up 27% YoY, representing 74% of total ARR of $417 million [4] - SaaS revenue reached $77 million, up 30% YoY, while total revenue was $119 million, up 17% YoY [4] - Non-GAAP gross margin improved to 76.3%, up from 71.8% in the prior year period [16] - Non-GAAP operating income was $15.1 million, compared to $6.4 million in the prior year period [16] - Free cash flow was $24.1 million, or 20% of total revenue [16] - Total remaining performance obligations were $549.4 million, up 32% YoY [16] Business Line Performance - Intapp Assist for DealCloud introduced two new AI-powered features: sourcing recommendations and smart tagging [5] - Intapp Assist for Terms was launched, enabling legal professionals to comply with client terms via Microsoft Teams [6] - Intapp Walls for Copilot gained traction, helping firms use Microsoft Copilot AI securely [7] - The company expanded its partner ecosystem, now totaling 135 data, technology, and services partners [8] Market Performance - International operations contributed 34% of total revenue, up from 31% a year ago [14] - The company added new clients across verticals, including a top-ranked venture capital firm in the US and TGS Baltic in the Baltic states [10][11] - Cloud migrations progressed, with notable examples including Honigman and a New York-based Am Law 100 firm [12] Strategy and Industry Competition - The company is focusing on cloud business over on-premise and service offerings, with 92% of clients adopting at least one cloud module [13] - Intapp is leveraging its partnership with Microsoft to drive growth, including co-selling through the Azure Marketplace [8][23] - The company is investing in AI capabilities, with Intapp Assist and Walls for Copilot contributing to growth [16] Management Commentary on Operating Environment and Outlook - Management highlighted strong demand and a robust pipeline, with no significant impact from macroeconomic factors [19] - The company expects SaaS revenue of $79.5-$80.5 million for Q2 FY25, with total revenue of $120.5-$121.5 million [17] - Full-year FY25 guidance includes SaaS revenue of $327.6-$331.6 million and total revenue of $495.5-$499.5 million [17] Other Important Information - The company has over 2,600 clients, with 707 having an annual recurring revenue of at least $100,000 [16] - Cloud net revenue retention rate reached 119% in Q1 FY25 [16] Q&A Session Summary Question: Deal Environment and Financial Services Outlook - No change in the deal environment, with strong demand and a robust pipeline [19] Question: ARR and Billing Dynamics - The company is focusing on enterprise accounts, with 70% of SAM in the top 2,000 accounts [21] Question: Alliance Impact and Revenue Contribution - The Microsoft partnership is the largest, with increased co-marketing and co-selling activities [23] Question: Margin Upside and Reinvestment - Margin improvement driven by services mix and cloud optimization, with continued investment in product-led growth [25] Question: SaaS Revenue Mix and Guidance - The company is being prudent with revenue mix, balancing license and cloud evolution [28] Question: Cloud ARR Growth Potential - Cloud ARR growth is driven by new logos, cross-selling, and upselling, with potential for larger deals [32] Question: Sales Team Changes and Productivity - The company reorganized its sales team to focus on enterprise accounts, with positive early results [35] Question: Cloud NRR Drivers - Cloud NRR driven by cross-selling and upselling success, with a focus on cloud metrics [37] Question: On-Premise to SaaS Migration Journey - The company is encouraging clients to migrate to the cloud, leveraging AI capabilities and scalability benefits [39] Question: Net New ARR Lumpy Performance - Net new ARR performance is influenced by deal timing and resource allocation [41] Question: Generative AI Pricing and Packaging - The company is seeing success with specific AI applications, defending pricing through value propositions [44] Question: KPMG Deal and Azure Marketplace Impact - The KPMG deal highlights the company's collaboration product and the benefits of the Azure Marketplace [46][48] Question: Microsoft Partnership and AI Strategy Flexibility - The company is not exclusive with Microsoft on AI technology but benefits from the strategic partnership [51] Question: Large Deal Activity and Pipeline Strength - Large deal activity is influenced by resource allocation to enterprise accounts, with a strong pipeline [55] Question: Capital Markets Activity and Growth Assumptions - The company's end markets remain healthy, with growth driven by execution rather than external factors [56]

Intapp (INTA) reported $118.81 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 17%. EPS of $0.21 for the same period compares to $0.06 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $117.85 million, representing a surprise of +0.82%. The company delivered an EPS surprise of +61.54%, with the consensus EPS estimate being $0.13.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Intapp (INTA) came out with quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 61.54%. A quarter ago, it was expected that this software developer would post earnings of $0.12 per share when it actually produced earnings of $0.15, delivering a surprise of 25%.Over the last four quarters, the company h ...

Exhibit 99.1 Intapp Announces First Quarter Fiscal Year 2025 Financial Results • First quarter SaaS revenue of $76.9 million, up 30% year-over-year • Cloud annual recurring revenue (ARR) of $309.1 million, up 27% year-over-year • Trailing twelve months' cloud net revenue retention rate as of September 30, 2024 was 119% PALO ALTO, Calif., November 4, 2024 – Intapp, Inc. (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, announced ...

Intapp (INTA) is set to release its first-quarter fiscal 2025 results on Nov. 4.For the fiscal first quarter of 2025, INTA expects revenues between $117.2 million and $118 million. Earnings are expected to be in the range of 12 cents-14 cents per share.For the fiscal first quarter of 2025, the Zacks Consensus Estimate for earnings is currently pegged at 13 cents per share, which remained unchanged in the past 30 days. This indicates an increase of 116.67% from the figure reported in the year-ago quarter. St ...

PALO ALTO, Calif., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Intapp (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, today announced that global consulting firm Alvarez & Marsal has selected Intapp DealCloud as its deal and pipeline management solution. Alvarez & Marsal’s rapidly expanding Corporate Finance practice group will use DealCloud to manage origination, sales pipeline, and deal workflows. Supporting teams with technology “We ...